Hyderabad police bust hawala racket, seize Rs 1.2 Cr

HYDERABAD: The Commissioner's Task Force, Central Zone, apprehended three persons and seized an amount of Rs.1,27,00,000 (One crore twenty seven lakhs).

On a tip-off, the task force police intercepted a two-wheeler, a white color Activa, in front of a cloth showroom near Liberty X roads in Himayath Nagar under Narayanguda police station.

The accused in the hawala racket were identified as Manne Srinivas (53), Vishwanath Chetty (45) and K Phani Kumar Raju (42).

During enquiry, Phani Kumar confessed that he was working as a collection agent under Manne Srinivas and he had collected a hawala amount of Rs. 70,00,000 from Manne Srinivas and remaining amount of Rs. 57,00,000 from Vishwanath Chetty and he was delivering the same to an unknown customer at Kavadiguda, Hyderabad. The police registered a case and are investigating.